Economic indices for 2008 and 2009

Tax receipts

2008 €40.7 billion
2009 €33 billion
2010 €31.9 billion (expected)

Economic contraction 20% from peak in 2007, (7% in 2008, 9% in Quarter 1 of 2009 and 4% to end of 09)

Government budget deficit

2008 €12.7 billion
2009 €24.6 billion

The deficit increase was due to a tax revenue decline of €7.7 billion and €4 billion to Anglo Irish Bank.

Income Tax

2008 €13.1 billion
2009 €11.8 billion

VAT

2008 €13.3 billion
2009 €10.6 billion

General Government Deficit

2009 11.4% of GDP
2010 13.5% of GDP

National Debt

2007 €25 billion
2008 €50 billion
2009 €75 billion
2014 €148 billion

Interest Payments on national debt

2008 €1.5 billion
2009 €2.5 billion
2014 probably about €7.75 billion

Conclusion – tax revenues now are same as 2003.

These figures underline the need for more taxes and less spending irrespective of which parties or individuals form the governments.